How the 2016 Federal Budget will impact you
BT Financial Group & Financial Planning Association
The 2016 Federal Government Budget has been announced and has included a range of measures that may impact superannuation and retirement income strategies.
A lifetime cap of $500,000 has been introduced on non-concessional (after-tax) superannuation contributions. This measure has been introduced as a regulation and applies from 7:30 pm on 3 May 2016.
A number of further proposed changes have also been announced, these will come into effect from 1 July 2017, subject to the passage of legislation.
For a written summary of the Federal Budget, please click the button below: